Shelly Banjo, Columnist

How Nike Escaped The Apparel Armageddon

Spoiler alert: It was the shoes.

December 22, 2015 at 10:40 PM UTC

Shelly Banjo leads the global business team for Bloomberg News in New York. A former New York bureau chief and senior tech writer, she’s covered business, finance and economics for two decades.

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Nike posted its eighth consecutive quarter of double-digit sales growth on Tuesday, adjusted for currency changes, defying the otherwise paltry performance of retailers hurt by warmer-than-usual weather in the U.S. Shares rose by 3 percent in after-hours trading, on top of a 37 percent rise so far this year.

Curiously, shares in Under Armour, which has recently been stealing market share from Nike, are down more than 20 percent in the past three months, trailing Nike and even the broad S&P 500 Apparel index, which is up about 5 percent in that time.